TerraUSD (UST), was a type of cryptocurrency known as a "stablecoin." According to its issuer, it used an algorithm to peg its value to the U.S. dollar and maintain stability.​ On May 9, 2022, UST lost its peg to the U.S. dollar. Over the next several days, it plummeted in value, falling from its supposed peg of $1.00 to less than $0.10 and never recovering.

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After the collapse, Terraform Labs, the maker of Terra UST, filed for bankruptcy. On March 12, 2025, the bankruptcy court issued an order allowing creditors to file claims to recover losses from UST's crash. Thousands of investors filed claims. The trustee is now engaged in litigation with investment firm Jump Trading. This may add to the funds available to investors. 

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If you have any questions about this process, you can contact the Plan Administrator at terraclaims@psc.com.

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EKO represents investors who have lost money in cases where cryptocurrencies collapsed.

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+ Coinbase. EKO represents investors in a class action against the Coinbase exchange for its role in promoting UST to customers.

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+ OKCoin. We represented OKCoin customers in a class action for the exchange's misrepresentations of the nature of the UST.

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+ Jump Trading. We are pursuing claims against this VC backer that refused to redeem UST for U.S. dollars when UST collapsed.

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+ Other stablecoins. EKO represents investors in other stablecoins that lost their peg to fiat currencies, such as the Japanese yen-pegged GYEN. 

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If you lost money when the UST peg broke, or have information about these cases, please contact an EKO attorney.

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